Mackenzie Financial Corp Has $57,000 Holdings in TrueCar, Inc. (NASDAQ:TRUE)

Mackenzie Financial Corp lessened its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 58.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,076 shares of the technology company’s stock after selling 25,325 shares during the period. Mackenzie Financial Corp’s holdings in TrueCar were worth $57,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in TrueCar during the 1st quarter valued at about $43,000. Fairman Group LLC purchased a new position in TrueCar during the 4th quarter valued at about $73,000. Hillsdale Investment Management Inc. purchased a new position in TrueCar during the 1st quarter valued at about $152,000. Assenagon Asset Management S.A. purchased a new position in TrueCar during the 2nd quarter valued at about $210,000. Finally, BNP Paribas Financial Markets grew its stake in TrueCar by 35.4% during the 1st quarter. BNP Paribas Financial Markets now owns 70,820 shares of the technology company’s stock valued at $240,000 after acquiring an additional 18,501 shares in the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.

TrueCar Stock Up 4.3 %

Shares of TrueCar stock opened at $3.41 on Wednesday. The stock has a 50 day moving average price of $3.10 and a two-hundred day moving average price of $3.08. TrueCar, Inc. has a 12-month low of $1.76 and a 12-month high of $4.05.

TrueCar (NASDAQ:TRUE) last announced its earnings results on Monday, August 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $41.80 million for the quarter, compared to the consensus estimate of $43.38 million. TrueCar had a negative return on equity of 14.10% and a negative net margin of 17.63%. On average, analysts predict that TrueCar, Inc. will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

TRUE has been the subject of several recent research reports. Needham & Company LLC lowered their price target on TrueCar from $4.00 to $3.75 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Lake Street Capital initiated coverage on TrueCar in a research note on Monday. They issued a “buy” rating and a $6.00 price target for the company. Finally, BTIG Research raised TrueCar from a “neutral” rating to a “buy” rating and set a $3.75 price target for the company in a research note on Wednesday, August 7th.

Insider Transactions at TrueCar

In other news, EVP Jeff Swart sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $2.82, for a total transaction of $56,400.00. Following the completion of the transaction, the executive vice president now directly owns 390,600 shares in the company, valued at $1,101,492. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

About TrueCar

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.